YEREVAN, February 25. /ARKA/. Eurasian Development Bank’s investment portfolio in Armenia amounted to $100 million in 2014, Sergey Ignatov, head of the bank’s office in Armenia told journalists.
“Loans extended to banks total $89 million here and the financing of Sagamar project for development of Armanis complex ore field amounts to $11 million,” he said.
The banker said that the bank finances large and complicated investment projects in Armenia.
“We finance particular projects, and each of them is unique – it has individual complicated structure and type of crediting,” he said. “Sometimes project paperwork alone takes one year and more. Armenia’s economy is relatively small, and we are familiar with all or almost all large investment projects in the country, even with those that are still only on paper. New investment projects that cost $10 to 15 million are unique and they are few. We are negotiating now on some projects continuing to search for new interesting ideas.”
Ignatov said that the bank is considering now a number of energy, logistics and agriculture projects, some of which are able to double the bank’s portfolio in Armenia.
Eurasian Development Bank (EDB) is an international financial organization established by Russia and Kazakhstan in 2006 to help develop market economies and boost mutual trade ties in member states. The bank’s authorized stock is 7bln US dollars. The member-states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. –0–
